Forex reserves up $2.67 bn to $366.78 bn

Posted by Daily Shipping Times on 27-03-2017        Tweet

MUMBAI: India’s foreign exchange reserves surged by whopping $2.671 billion to $366.781 billion for the week ended March 2017 on account of increase in foreign currency assets, the Reserve Bank said recently.

In the previous week, the reserves had risen by $98.6 million to $364.109 billion.

Foreign currency assets (FCAs), a major component of the overall reserves, rose by $2.645 billion to $343.101 billion in the reporting week, the RBI said.

Expressed in US dollar terms, FCAs include the effects of appreciation/depreciation of non—US currencies, such as the euro, pound and the yen held in the reserves.